Raghav Bahl says no financial misconduct on his part
Bahl, who is the founder of news portal Quint and Network18, said funds under question were part of income for which taxes have been duly paid
Media baron Raghav Bahl has been served a showcause notice by the government of India, regarding funds used by the senior journalist to acquire property abroad, media reports said.
Bahl, who is the founder of news portal Quint and Network18, has issued a statement, saying there was no financial misconduct on his part and that funds invested were part of income for which taxes have been duly paid.
There were also reports about the Enforcement Directorate starting an investigation into property owned by Bahl abroad. However, Bahl said the report was “mischievous and misleading”.
The statement issued by Bahl said: “All the funds invested in the property are from income on which taxes have been duly paid, and have been duly, undisputedly and consistently disclosed in the Foreign Asset Schedule of the Income Tax Returns of Mr. Raghav Bahl and his wife and children. The entire funds invested in that property have been remitted through the banking channel under the scheme approved by the Reserve Bank of India and all taxes have been duly paid. All the information and documents with regard to the concerned property are on the records of the concerned Authority.”
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